Australian Business Podcast Want tax deductions? These 7 money-savers blew me away | Jordan shares 7 last-minute tax strategies
Want tax deductions with that? Like saving money?
The Australian Business Podcast is back and your host Owen Rask speaks with Jordan Kidis, co-founder of Grey Space Advisory about 7 of his favourite 'last minute' tax saving hacks.
If you run a business and pay Super, you REALLY need to listen to this. You could save big.
Jordan's ideas, summary:
- Temporary full expense - this expires soon (it'll be reduced down to just $20,000!). If you're a small biz, make it work!
- Maximise Super contributions - before June 30th, up to $27,500 for concessional contributions (see ATO website).
- PAY Super now - before June 14th, ideally.
- Bring-forward expenses - what can you bring forward to this EOFY?
- Year-end stock take - for e-commerce or others with expiring goods.
- Write-off bad debts - but be mindful.
- Prepayments - pay the subscriptions upfront (and save!)
~~ Resources ~~
Ask a question: https://bit.ly/3QtiY00
Grey Space website: http://bit.ly/3DG5lWS
Free business course: https://bit.ly/rask-biz-course
Owen Rask's business coaching (beta): https://bit.ly/coach-owen
This Australian Business Podcast Episode is for founders, business owners and investors in private companies.
Join 2,300+ students in our free business course!
If you liked this episode, don’t forget to consider taking our free business course and tuning into the Australian Business Podcast episode one, in which I shared my journey.
Love the Australian Business Podcast? Let me know about it by leaving a review on Apple or Spotify.
If you want to help me out with the course, right now the best thing you can do is subscribe and review this podcast in Apple or Spotify. Please use the “Ask a question” menu link on the Rask websites, or leave your questions in the Apple Reviews.
✅ Grey Space Advisory – accounting today for a smarter tomorrow
Do you get stuck worrying about your business’ finances? Or what needs to be paid to ATO, employees, Super funds and so on? The Australian Business Podcast is proud to announce that our sponsor, Grey Space Advisory, is offering all business owners a financial health check.
Jordan and Danil’s expert team of accountants will conduct a review of your tax structure, bank set-up, ATO obligations and reporting, business insurance and provide some advice on how to manage all of this — for just $99! Book a $99 business health check with the Grey Space Advisory team and tell them Owen sent you.
☕️ Rumble Coffee Roasters — our OG sponsor & coffee genius!
Rumble Coffee Roasters is dedicated to helping you drink better coffee. Knock-out blends, world-class single origins, bold espressos and flavour-filled filter roasts. Rumble Coffee prides itself on personal relationships with producers and customers alike. Tell them Rask sent you.
***
The information on this website and in our podcasts is general financial and tax information only. That means, the advice does not take into account your objectives, financial situation or needs. Because of that, you should consider if the advice is appropriate to you and your needs, before acting on the information. If you don’t know what your needs are, you should consult a trusted and licensed financial adviser or tax agent.
Learn more about your ad choices. Visit megaphone.fm/adchoices